All lots in the Subdivision shall be sold subject to the following restrictive covenants, which shall be binding upon each and every lot in the Subdivision and shall be construed to be covenants running with the land.

1. No building or seawall shall be constructed or erected on the said hereditaments until the plans, specifications and location thereof shall have been approved by the Company or its assigns.

2. No trade manufacture business or commercial undertaking shall be carried on upon the said hereditaments, nor shall any building be constructed or erected on or used for any purposes other than that of a private dwelling house and the appurtenances thereto, with the exceptions that Block Six, less the north one hundred twenty five feet thereof, will be zoned for multi-family units, and Block Seven, plus the north one hundred twenty five feet of Block Six, will be zoned commercial.

3. No outside toilets shall be erected or maintained on said hereditaments. Adequate septic tanks shall be installed and no flow of sewerage to adjoining waters shall be permitted.

4. No building nor any part thereof including garages and porches, shall be erected or allowed within fifteen (15) feet of the water boundary, or within twenty-five (25) feet of the street boundary, or within seven and one half (7 1/2) feet of either side boundary of any building site; provided that walls and terraces not exceeding five (5) feet in height, and areas enclosed on the roof and all sides only by open mesh screening, shall be permitted in such areas.

5. It is not the intention that a building site for a residence shall be limited to a lot as laid out and show on the plat. A building site may consist of a portion of a lot as platted, or portions of contiguous lots, provided only that the front and rear measurements of every building site shall be not less than seventy-five (75) feet.

6. No boat houses or boat garages of any kind shall be constructed or permitted in any of the waterways. No boat dock shall be constructed or permitted until and unless the size and location thereof shall have been first approved by the Subdivider, SUNSHINE DEVELOPMENT, LIMITED, and in no event shall any such docks, or any other obstructions to navigation, such as dolphins and anchor buoys, extend into a waterway more than six (6) feet from the seawall.

7. In order to maintain the high standards of the Subdivision and to insure the continued upkeep and maintenance of the Subdivision, and the streets and other common facilities therein, after January 1, 1968, each lot owner, including the Subdivider, shall be liable for his pro-rata part of the costs of such upkeep and maintenance based upon a square footage basis, all of such costs prior to such time to be paid for by the Subdivider. The authority to do the work required for such purposes and to levy upon the low owners the assessments therefor shall be vested in the Subdivider until such time as the Subdivider shall transfer such authority to a committee to be selected by a majority of the lot owners by the Subdivider, and thereafter such committee shall be vested with such authority. The assessments for such work shall be made periodically as such work is required, and payment of a lot owner’s pro-rata share thereof shall be made within thirty (30) days after a notice thereof shall be mailed to the owner. The amount of the assessment against each lot shall constitute a lien thereon until paid, enforceable by the Subdivider or by the committee, should such authority have been transferred to a committee.

So long as the Subdivider shall own twenty (20%) percent of the lots in the Subdivision, the committee shall be appointed by the Subdivider, and thereafter the committee shall be selected by a majority of the lot owners.

8. No temporary building and no hoarding sign or advertising device of any kind shall be erected on the said hereditaments except sheds or workshops to be used for the works incidental to the erection of any buildings therein.

9. No swine, cows, horses, poultry or objectionable animals or creatures shall be kept, raised or maintained on the said hereditaments, PROVIDED ALWAYS that dogs shall not be deemed to be objectionable animals.

10. No unlawful, immoral or objectionable use shall be made of the said hereditaments.

11. The foregoing restrictions may be changed, altered, or amended by the Subdivider at any time so long as the Subdivider shall own not less than fifty (50%) percent of the lots in the Subdivision, and thereafter by the owners of not less than seventy-five (75%) percent of said lots. Any such changes, alterations, or amendments shall be made by an instrument in writing and filed in the Registry of Records in the City of Nassau.

Recorded on 01March1967 Recorded in the records of the Registrar General of the Commonwealth of the Bahamas in Volume 1591 at pages 307 et.seq.

All lots in the Subdivision shall be sold subject to the following restrictive covenants which shall be binding upon each and every lot in the Subdivision and shall be construed to be covenants running with the land.

1. No building shall be constructed or erected on the said hereditaments until the plans, specifications and location thereof shall have been approved by the Company or its assigns.

2. No trade manufacture business or commercial undertaking shall be carried on upon the said hereditaments nor shall any building be constructed or erected on or used for any purposes other than that of a private dwelling house and the appurtenances thereto.

3. No outside toilets shall be erected or maintained on said hereditaments. Adequate septic tanks shall be installed and no flow of sewerage to adjoining waters shall be permitted.

4. No building nor any part thereof including garages and porches, shall be erected or allowed within fifteen (15) feet of the water boundary, nor within twenty-five (25) feet of the street boundary, nor within seven and one half (7 1/2) feet of either side boundary of any building site; provided the walls and terraces not exceeding five (5) feet in height, and are as enclosed on the roof and all sides only be open mesh screening, shall be permitted in such areas.

5. It is not the intention that a building site for a residence shall be limited to a lot as laid out and show on the plat. A building site may consist of a portion of a lot as platted, or portions of contiguous lots, provided only that the front and rear measurements of every building site shall be not less than seventy-five (75) feet, and provided further that Lots 1 and 45 of Block 7, Lot 13 of Block 2, and Lot 19 of Block 8, may not be decreased in size.

6. Seawalls shall be constructed only be the Subdivider, SUNSHINE DEVELOPMENT, LIMITED, and in no event shall seawalls of any kind of nature be constructed or permitted upon any oceanfront lot. Upon completion of the construction of the seawalls, shall be pro-rated against each lot concerned on a waterfront footage basis, and the cost thereof shall be paid by the lot owner to the Subdivider within thirty (30) days after the owner has been notified of his pro-rata share of the cost. The Subdivider shall have a lien against each of such lots for the unpaid portion of such seawall costs.

7. No boat houses or boat garages of any kind shall be constructed or permitted in any of the waterways. No boat dock shall be constructed or permitted until and unless the size and location thereof shall have been first approved by the Subdivider, SUNSHINE DEVELOPMENT, LIMITED, and in no event shall any such docks, or any other obstructions to navigation, such as dolphins and anchor buoys, extend into a waterway more than six (6) feet from the seawall.

8. In order to maintain the high standards of the Subdivision and to insure the continued upkeep and maintenance of the Subdivision, and the streets and other common facilities therein, after January 1, 1962, each lot owner, including the Subdivider, shall be liable for his pro-rata part of the costs of such upkeep and maintenance based upon a square footage basis, all of such costs prior to such time to be paid for by the Subdivider. The authority to do the work required for such purposes and to levy upon the low owners the assessments therefor shall be vested in the Subdivider until such time as the Subdivider shall transfer such authority to a committee to be selected by a majority of the lot owners by the Subdivider, and thereafter such committee shall be vested with such authority. The assessments for such work shall be made periodically as such work is required, and payment of a lot owner’s pro-rata share thereof shall be made within thirty (30) days after a notice thereof shall be mailed to the owner. The amount of the assessment against each lot shall constitute a lien thereon until paid, enforceable by the Subdivider or by the committee should such authority have been transferred to a committee.

So long as the Subdivider shall own any of the lots in the Subdivision, the committee shall be appointed by the Subdivider, and thereafter the committee shall be selected by a majority of the lot owners.

9. No temporary building and no hoarding sign or advertising device of any kind shall be erected on the said hereditaments except sheds or workshops to be used for the works incidental to the erection of any buildings therein.

10. No swine, cows, horses, poultry or objectionable animals or creatures shall be kept, raised or maintained on the said hereditaments, PROVIDED ALWAYS that dogs shall not be deemed to be objectionable animals.

11. No unlawful, immoral or objectionable use shall be made of the said hereditaments.

12. The foregoing restrictions may be changed, altered, or amended by the Subdivider at any time so long as the Subdivider shall own not less than fifty (50%) percent of the lots in the Subdivision, and thereafter by the owners of not less than seventy-five (75%) percent of said lots. Any such changes, alterations, or amendments shall be made by an instrument in writing and filed in the Registry of Records in the City of Nassau.